21/11/2009<br /> Complainant : IP<br /> <br /> Opposite party: DNC<br /> <br /> The complainant present in person submitted that he received the principal amount of Rs. 3,00,000/- from the opposite party. He requested that reasonable interest may be awarded to him since he has paid the amount to the opposite party in the year 2007. The complainant has paid the amount to the opposite party for getting a site in Asihwarya Grand Citi layout. The opposite party did not form the layout as promised. Therefore, the complainant approached for refund of advance amount paid to the opposite party. After filing this complaint notice was sent to opposite party and opposite party appeared through counsel and the learned counsel submitted that matter will be settled and accordingly, the opposite party paid Rs. 3,00,000/- the principal amount to the complainant. The complainant requested for grant of interest since he has paid the amount in the year 2007 and the opposite party had utilized the amount for their own use. The request of the complainant for awarding of interest at reasonable rate is justified. It is just, fair and reasonable to grant 6% interest p.a. on the refund amount from the date of payment made by the complainant till refund amount received by the complainant. The complainant has given receipt dtd.10.11.2009 stating that he had received Rs. 3,00,000/-. Therefore, till that date it is just, fair and proper on the part of opposite party to pay interest to the complainant. The complainant is a consumer under the definition of Consumer Protection Act 1986. The Act is a social and benevolent legislation intended to protect better interests of consumers. The request of the complainant to award reasonable interest shall have to be accepted as just and fair. Therefore, I proceed to pass the following:<br /> <br /> ORDER<br /> 1. The complaint is disposed off directing the opposite party to pay interest at 6% p.a. on Rs. 3,00,000/- from the date of payment made by the complainant till the date of refund of the amount (i.e. from 20.08.2007 to 10.11.2009).<br /> 2. Opposite party is directed to send the interest amount directly to the complainant by way of D.D. / Cheque with intimation to this forum.<br /> 3. Send the copy of this Order to both the parties free of costs immediately. <br /> 4. Pronounced in the Open Forum on this 21ST DAY OF NOVEMBER 2009.<br /> Order accordingly,<br /> <br /> PRESIDENT<br /> We concur the above findings. <br /> <br /> MEMBER <br /> <br />